The following items are taken from the financial statements of Akram Company for the year ending December 31, 2010Accounts payable$ 18,000Accounts receivable11,00028,00021,000Accumulated depreciation-equipmentAdvertising expenseCashAkram, Capital (1/1/10)Equipment15,000102,000Note payable, due 6/30/11Patents20,000Prepaid insurance (12-month policy)6,000Retained earnings, (31/12/2010)10,000Service revenue133.000Prepare the total current assets side only of the classified balance sheet at December 31, 2010? (Use report format)190,00070,000

Classified balance sheet is one of the important financial statement for business, which shows all…

The following items are taken from the financial statements of Akram Company for the year ending December 31, 2010 $ 18,000 11,000 28,000 21,000 Accounts payable Accounts receivable Accumulated depreciation-equipment Advertising expense Cash Akram, Capital (1/1/10) Equipment Note payable, due 6/30/11 Patents 20,000 Prepaid insurance (12-month policy) 6,000 Retained earnings, (31/12/2010) 10,000 Service revenue 133,000 Prepare the total current assets side only of the classified balance sheet at December 31, 2010? ( 15,000 102,000 190,000 70,000

The following items are taken from the financial statements of Akram Company for the year ending December 31, 2010 $ 18,000 11,000 28,000 21,000 Accounts payable Accounts receivable Accumulated depreciation-equipment Advertising expense Cash Akram, Capital (1/1/10) Equipment Note payable, due 6/30/11 Patents 20,000 Prepaid insurance (12-month policy) 6,000 Retained earnings, (31/12/2010) 10,000 Service revenue 133,000 Prepare the total current assets side only of the classified balance sheet at December 31, 2010? ( 15,000 102,000 190,000 70,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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